Altria Group, Inc.
Altria Group Announces Share Repurchase and Underwriting Agreements
Summary
On March 13-19, 2024, Altria Group, Inc. entered into a Share Repurchase Agreement with Anheuser-Busch InBev SA/NV to repurchase $200 million of Ordinary Shares and an Underwriting Agreement for a global secondary offering of ABI ordinary shares. In addition, Altria executed accelerated share repurchase transactions for $2.4 billion of its common stock as part of its expanded share repurchase program.
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About Altria Group, Inc.
Altria Group, Inc. is a holding company with a primary focus on the manufacture and sale of cigarettes and related products. Serving as a leading player in the tobacco industry, Altria is best known for its premium cigarette brand, Marlboro, which holds a significant market share in the United States. Beyond cigarettes, the company has established a diversified portfolio by investing in smokeless tobacco products, wine via its subsidiary Ste. Michelle Wine Estates, and a stake in the cannabis market through its investment in Cronos Group. Altria's strategic expansions into non-cigarette categories reflect its aim to navigate changing consumer preferences and regulatory landscapes. As one of the foremost publicly traded entities in its sector, Altria plays a significant role in the broader consumer goods market. The company continues to engage with shifting market dynamics by fostering innovation in reduced-risk products while maintaining its strong presence in traditional tobacco markets.
Official SEC Documents
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